The GBP/USD pair continues to move around the 1.2500 support level after it rebounded from the 1.2590 resistance.
In general, the price moves above an ascending trend line that forms a path for the price and a support level for it, and if the price succeeds in breaking the trend …
The EUR/USD pair achieved its first ascending target and reached the resistance 1.0750. Where the price continues to move within the ascending channel, which constitutes the initial path of the price and the limits of the price movement.
We are likely to see some bearish correction to the 1.0645 support …
The trend is descendant. The descendant wave structures are truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions. The support level of 0.7128 restrains buyers.
Trading idea:
Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel of the ascendant truncated …
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